Canadian Home Furnishing Retailer Driving Business Value In 6 Months with Retek`s Mid-Market Offering
Minneapolis - April 30, 2002 -- Retek Inc. (Nasdaq: RETK) today announced that Stokes, a Montreal-based home furnishings retailer with over 140 stores across Canada, has implemented Retek`s Merchandising and Supply Chain Management solutions. The solutions were implemented in less than six months using Retek`s Mid-Market deployment offering. The Retek solutions replaced legacy software systems that inhibited Stokes` sales growth and profitability.
"We evaluated several options, but Retek had the best functionality," said Jordan Shiveck, president of Stokes. "Our key issues such as replenishment and supply chain management were all solved within Retek`s proven, scalable infrastructure. The solutions have provided us faster access to critical information, visibility into our supply chain and substantially improved replenishment. We were very pleased with the rapid implementation which translated into faster realization of business benefits."
Stokes legacy systems were significantly limiting its ability to effectively manage inventory. Retek Merchandising and Supply Chain Management solutions are helping Stokes improve inventory turns and improve customer satisfaction. Stokes implemented these solutions in less than six months using Retek`s Mid-Market deployment offering, which focuses on managing the scope of the project and leveraging Retek`s embedded best business practices as the rule in the implementation approach.
"The teamwork between Stokes and Peter Hora & Associates is a great example of the speed to benefit that can be accomplished with Retek solutions," said Joe Polonski, Retek`s Vice President of Merchandising Solutions. "By using a simplified implementation approach, mid-sized retailers can gain access to the best-in-class solutions provided by Retek."
Stokes` merchandising and supply chain initiatives were managed by Peter Hora and Associates, a Retek implementation partner. Peter`s team was instrumental in providing retail implementation project expertise and played a key role in the success of the project. They leveraged Retek`s architecture, powerful user interface and flexibility to quickly implement the solution and deliver benefits immediately, without impacting day-to-day operations. This was accomplished with a small IT support organization and limited full-time user representatives on the project.
Stokes is a multi-divisional organization with 140 stores located from coast to coast across Canada. They are primarily a house wares and tabletop chain with stores ranging from 1500-5000 square feet. Stokes uses both domestic and foreign Vendors and is extremely replenishment driven. Stokes has been in business for over 50 years.
About Retek Inc.
Retek Inc. is a leading provider of software solutions and services to the retail industry. Retek`s collaborative solutions help the retail industry create, manage and fulfill consumer demand. The RIS News Leaderboard 2001 ranked Retek the #1 software vendor for retail. Retek`s offering, Retek 10, encompasses Retek`s proven strategies, sophisticated software applications, patented predictive technology, unparalleled services, and the best practices of its customers and partners. Retek 10 provides retailers with the fastest path to sustainable business value. Many of the world`s leading retailers use Retek solutions, including A&P;, Tesco, Best Buy, Family Dollar Stores, Gap, Sainsbury`s, Eckerd Corp. and Kohl`s Department Stores. For more information, visit http://www.retek.com, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646.
Retek is a trademark of Retek Inc. Other names may be trademarks of their respective owners. Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company`s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.